The sun. [volume] (New York [N.Y.]) 1833-1916, 1887-11-20
KING COTTON TODAY
A Very Powerful Monarch. bat Not the
Royal Bess that he was Oncc.

",
Texas. He made peace or war, contracted
alliances framed treaties, and held high reyel
In plantation courts. There were few laws that
were not subject to his revision, and his veto
was superior to any two-thdrds rule.
But King Cotton has been dethroned. He is
still king. but q king only to be compared
with one Of those subject kings OF the German
empire who must consent to shine In light
reflected from the imperial throne He has
even enlarged his dominions, conquered new
territory, and secured new subjects, but Tor all
that his sceptre Is discredited. He Is no longor
treated with regal consideration. To say truth,
he was always an impecunious king, and has
finally lost caste among his fellow kings be-
cause he was never quito able to transmute his
sceptre into gold. He was king whose right
to rule rested on his baronial subjects, and
they were not equal to the task Of maintaining
his estate FREQ from the.exactions Of the usurer
The old system OF administration In the do
mnions OF King Cotton has become historical
There were immense principalties OF many
square miles we'll populated with sable inhabi;;
tants. and from their fair fields snowy cloud
Orleans, Savannah, Charleston. Mobile. or Gal
weston. where 1t was gathered In BY, factors IN
sheses in their hands be
turn transport. bookkeeping was task en-
tirely beneath tho dignity o. prince OF the ne
old regime, and he was too fast liver TO DO
and and harvest. The factor stood to him, there
he could draw for revenue as It was demanded
Here, possibly. was the, origin OF the system OF
dealings IN futures Few crops aTri H At the
ment OF old claims and as the foundation for
b been common for period OF ten or fifteen
years TO- pass without any slater statement IN IN
SSar q he psnep and his
port, but he never wont to look over the
for his dominions. or perhaps to buck u little
AGAINST the tiger and enjoy such other r., dis s.
ask him to perplex his head with figures would
have been unreasonable, He never, asked
prices, and, generally paid any considerable
drafts on his factor, or, commission merchant.
These would be cashed willingly by any trades
botter A than II the bank notes s' OF tho period
cotton plantations. since the war. For time
after the return OF peace an attempt was made
to rovive old traditions. but the South was too
much dis1nTgantzed to permit the effort to
succeed. The former slaves, become freed
mon, could no longer DO made a basis for
credit. The land, too had declined frightfully
In value, and nothing stood between the factor
to the point OF punctlio. but they could not com
I s she hs M
creased cost in production, 1t was soon found
about an even caleulaten between the success
1869-70, heavy losses were met sufficient to dis
locate the entire system. These. losses were
relations between the planters and their hands.
The new system for producing and handling
+ RATHER on dsr on
principle. The factor still survives, and the
more is the pity; the crop, IN too many in
nent in advance. But there are now hun
bred factors whore there was formerly. only
L. n e
general merchandise have become the agents
OF the chief factors remaining at the ports. and
they can be. trusted to stand between their
principal and his customers But the customer
aEer Gd not the
years to find that free labor, demoralized by
the incidents of reconstruction. could not be
was necessary. There proved TO be obstacles
in the way of realizing literally the scheme for
@usated Yf by the carpet bagsers BUT M" an al
Tentative was soon found. The large panta-
tions were divided up into what are now known
about tSirty-iiye acres, and these arg rented to
the colored population for share Of the crop.
four. goes to the owner of the land. and the re-
mainder is the property Of the tenant. or. to
nor nn s 9 9n
Here we find the strongest direct evidence of
the reinforcement OF King Cotton. Estimates
ton before the war, some estimates placing it
as low as 8 cents a pound and others as
sgh ad O. pp nan cost csn
ally BY 1 Mr B. shspnsrsep the WsiknoEn
Alabama. Georgia, and South Carolina, and
the eSS market prizes OF the commodsy in yer
pool or New York. The Hon. William L. Peek.
state Senator in Georgia for example, places
ton Of Alabama estimates it at 81 cents, and
the Hon. A, T. Butler, Commissioner of Agrl,-
Ali three eontlemen, it will be seen, reach
nearly the same conclusion. AS 1t takes about
two acres to raise one bale of cotton weighing
more commonly estimated at 400 pounds. and
as the prices for the current year have not
pound in New York. one fails to see the profit.
little extra Is gained from cotton'seed, but
not much and the chief profit must be drawn
from what the cotton grower can save on his
labor II he is a healthy, colorGd man with ~
stout woman and several available children.
ninnies in hoe cake. But little wisdom has
been taught to him by experience, He has
ID e
any case the figures seem to suggest that
We're II not for our cheap living and easygoing
become a lost industry in tho United States
IL ID pTODdDe tllaI lIo cotton
trade is more thoroughly systematized than
the trade in any other large commodity. and
in this respect it is a model to be initiated in
oil other departments Of traffic. so far as imi-
tation Is possible. This perfection In detail is
due primarily to the existence of Exchanges
ut all the cotton ports, and to the facility with
which reports may be gathered and transmitted
from one agency to another: Apparently.
every bale OF cotton raised is held under the
eye of the statistician from the time 1t leaves
the cotton field to tho moment 1t reaches the
mill. The daily. weekly and monthly receipts
at every port. from Bombay to Galveston, are
always at hand. The number Of bales ut sea
may be estimated with as much certainty as
the number of passengers between New York
and Liverpool. and every bale destroyed by
fire. shipwreck, or other casualty will have its
to be drawn upon seems to be about us well
known to the trade as the stock OF goods in
mercantile warehouse is supposed to be known
to the proprietor, and there seems to be no
chance for miscalculation save the chance
that may spring, from widespread crop failures
tenn is felt upon the market. Considerable
sons. combined with other known causes
that stimulate or depress trade, are
inevitable in the price Of any agricu-
tural product But in looking over the TIA
Bile OF quotations Of cotton for Il long series OF
years We find that the prices prevail ing for the
mast two three wears have run n close pural-